Aadhar Housing Finance - making home loans accessible to all

Owning a house is a dream that every Indian grows up with. However, while there are various options for people in the middle and higher income groups to avail loans and fulfil this dream, it is the low income group that has been always been in the...

ET Spotlight|

Updated: Sep 04, 2018, 03.02 PM IST

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Owning a house is a dream that every Indian grows up with. However, while there are various options for people in the middle and higher income groups to avail loans and fulfil this dream, it is the low income group that has been always been in the periphery. However, one key player realised this difference and established a lending service that is focused on this low-income group - Aadhar Housing Finance. A subsidiary of Wadhawan Global Capital(WGC), Aadhar Housing Finance has been empowering the low-income group in India to get a home of their own,under the leadership of their MD & CEO, Deo Shankar Tripathi.

From being a banker for more than 3 decades to leading Aadhar Housing Finance, Mr. Tripathi has come a long way. In an exclusive interview with ET, he spoke about his vision for the future of housing development, the need for home loans and much more.

Tripathi shared his views on the Prime Minister's housing scheme, dedicated to make affordable homes available for every India. Owning a house was seen as a luxury that not many could afford. However, the Pradhan Mantri Awas Yojana scheme, aims at providing affordable housing for all by 2022. Tripathi applauds this effort by the current Government and speaks about how it would benefit the economy. Catch the exclusive this chat below-

Aadhar Housing Finance, a subsidiary of WGC, has facilitated home loans to more than 100,000 families, making sure that homes are more accessible to people in the low-income group. Their focus on the target audience has been evident from their average lending amount, which has been around Rs 8 lakhs, according to Mr. Tripathi.

Speaking about the merger of Aadhar Housing finance with DHFL Vysya Housing Finance, Mr Tripathi said, "Aadhar Housing Finance was established with a clear-cut vision to focus on the low-income segment. From day one we started targeting low-income segment, and we went from state to state, location to location. In 2017, Aadhar merged with another group company, DHFL Vysya Housing Finance. After their merger, the name of the company was again changed to Aadhar Housing Finance, and it became the India's largest affordable housing finance company, in terms of reach."

Aadhar Housing Finance has been making the dream of owning a home, a reality for lakhs of Indians and they aim to increase their reach in the coming years. With the boost, provided by the Government of India's Housing for All scheme, Aadhar Housing is looking to reach a target of Rs 35,000 crore loan book by 2022. The company's latest campaign, #GharBanegaTohDeshBanega, stands testament to their vision, which has been reiterated byMr. Deo Shankar Tripathi.

(This article is generated and published by ET Spotlight team. You can get in touch with them on etspotlight@timesinternet.in)

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